What must be remembered is the British Pound is also moving forward against the U.S dollar, so the difference is not so significant.
On June 21 when CAPE took a tilt at PCG the $A was about 85c so the difference is about 4%, not 10%.
The conversion between the brit pound and the $A was 42.3c compared to 42.6c now. No difference at all.
PCG is now (and has been for a while) paying their overseas workers in $US so are saving about 10% in wages. If they were to tender jobs in %AUS, then that is even more savings...
CAPE would have already known about the strong $A in June and still showed interest.
I just want an offer on the table to see if anyone else is looking.
PCG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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